LMR Partners LLP raised its stake in HP Inc. (NYSE:HPQ) by 106.4% during the second quarter, Holdings Channel reports. The institutional investor owned 93,380 shares of the computer maker’s stock after buying an additional 48,130 shares during the period. LMR Partners LLP’s holdings in HP were worth $1,632,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. CWM LLC increased its stake in shares of HP by 0.3% in the first quarter. CWM LLC now owns 6,419 shares of the computer maker’s stock valued at $115,000 after buying an additional 20 shares in the last quarter. DnB Asset Management AS increased its stake in shares of HP by 694.8% in the first quarter. DnB Asset Management AS now owns 3,939,034 shares of the computer maker’s stock valued at $70,430,000 after buying an additional 3,443,455 shares in the last quarter. NewSquare Capital LLC increased its stake in shares of HP by 12.3% in the first quarter. NewSquare Capital LLC now owns 72,449 shares of the computer maker’s stock valued at $1,295,000 after buying an additional 7,960 shares in the last quarter. Rockland Trust Co. increased its stake in shares of HP by 1.9% in the first quarter. Rockland Trust Co. now owns 156,887 shares of the computer maker’s stock valued at $2,805,000 after buying an additional 2,943 shares in the last quarter. Finally, Moody National Bank Trust Division acquired a new stake in shares of HP during the first quarter valued at about $746,000. 79.90% of the stock is owned by hedge funds and other institutional investors.
Shares of HP Inc. (HPQ) opened at 18.97 on Thursday. The company’s 50-day moving average price is $18.63 and its 200 day moving average price is $17.92. The company has a market cap of $31.93 billion, a P/E ratio of 13.42 and a beta of 1.90. HP Inc. has a 52 week low of $13.55 and a 52 week high of $19.58.
HP (NYSE:HPQ) last posted its earnings results on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The company had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter in the prior year, the business earned $0.41 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities analysts forecast that HP Inc. will post $1.64 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be given a $0.1327 dividend. This represents a $0.53 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Tuesday, September 12th. HP’s payout ratio is 37.32%.
HPQ has been the subject of several research analyst reports. Barclays PLC raised HP from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $17.00 to $22.00 in a research note on Wednesday, April 19th. Zacks Investment Research raised HP from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Tuesday, April 25th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $20.00 price objective (up from $18.00) on shares of HP in a research note on Friday, May 19th. Credit Suisse Group reissued a “buy” rating and issued a $19.00 price objective on shares of HP in a research note on Tuesday, May 23rd. Finally, BMO Capital Markets increased their price objective on HP from $17.00 to $20.00 and gave the stock a “hold” rating in a research note on Thursday, May 25th. Nine research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. HP presently has an average rating of “Buy” and an average target price of $19.89.
In other news, COO Jon E. Flaxman sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $18.26, for a total value of $639,100.00. Following the transaction, the chief operating officer now owns 62,203 shares of the company’s stock, valued at $1,135,826.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Margaret C. Whitman sold 221,960 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $19.36, for a total value of $4,297,145.60. Following the completion of the transaction, the director now directly owns 692,849 shares in the company, valued at approximately $13,413,556.64. The disclosure for this sale can be found here. Insiders sold 1,748,815 shares of company stock worth $32,623,560 in the last ninety days. 0.62% of the stock is owned by company insiders.
HP Company Profile
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
Want to see what other hedge funds are holding HPQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HP Inc. (NYSE:HPQ).
Receive News & Ratings for HP Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HP Inc. and related companies with MarketBeat.com's FREE daily email newsletter.